The Government of India lately introduced the dates and concern value of the Sovereign Gold Bond (SGB) Scheme 2022-23 (Series 1). The concern value of the SGB scheme this time is Rs 5091 per gram. The subscription interval will likely be open until twenty fourth June with the settlement date on twenty eighth June 2022.
“In terms of Government of India Notification No.4(6)-B(W&M)/2022 dated June 15, 2022, Sovereign Gold Bonds 2022-23 (Series I) will be opened for subscription during the period June 20-24, 2022 with Settlement date June 28, 2022. The issue price of the Bond during the subscription period shall be ₹5,091 (Rupees five thousand ninety one only) per gram, as also published by RBI in their Press Release dated June 17, 2022,” an official launch dated seventeenth June 2022 mentioned
Discount supply
The authorities has introduced Rs 50 low cost for patrons making use of and paying on-line for SGB.
“Government of India in consultation with the Reserve Bank of India has decided to allow discount of ₹50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be ₹5,041 (Rupees five thousand forty one only) per gram of gold,” the discharge mentioned.
The final concern value per gram of the sovereign gold bond launched in February this yr was Rs 5109. It was preceded by SGB Scheme 2021-22 (Series IX) with a problem value of Rs 4786.
Under the SGB scheme, the traders is compensated at a hard and fast price of two.50 % every year payable semi-annually on the nominal worth.
SGB can be utilized as collateral for loans. These bonds may also be traded available in the market.
The SGB maturity interval is 8 years. However, customers could make untimely redemption after the fifth yr on the date on which curiosity is payable. On redemption, the value paid to the client is the easy common of the closing value of gold of 999 purity, of the earlier three working days revealed by IBJA Ltd.
Source: www.financialexpress.com”